Statistic shows that teenagers are more likely to get involves in accident compare with adults. It is estimated that teenagers have 6 times higher risk to get involved in car accident. Therefore, it is necessary to obtain car insurance for your teenager so that you won’t end up paying a large portion of the car repair bill.
Maintaining a high grade enables you to get discount on the teenage car insurance. Most insurance companies offers a 10 – 25% discount for teenagers that pass their driving test with B. Teenagers with good grades are more responsible compare with those who have a C grade.
Attending driver education class can also help you to get discount in your car insurance premium. It is recommended that you let your teenager attend 50 hours of supervised driving class rather than 6 – 8 hours of supervised driving class offered at the high school. Besides attending education classes, you can encourage your teenager to read instructional booklets and watch videos that are provided by the insurers.
Paying for higher deductibles can reduce the premium up to 35%. The deductible refers to the amount you have to pay before the insurance company will pay out your compensation.
Buying new cars will jack up the price of your insurance coverage. It is cheaper to insure old car compare with new cars.
Instead of buying an independent policy, you can consider adding your teenager to your existing policy. The discounts that are applied to your current car insurance policy will pass on to your teenager as well.
